Zacks Reiterates Neutral Rating for CMS Energy Corp. (CMS)
CMS Energy Corp. (NYSE:CMS)‘s stock had its “neutral” rating restated by Zacks in a note issued to investors on Monday, Analyst Ratings News reports. They currently have a $29.00 target price on the stock. Zacks‘ price target would indicate a potential upside of 6.15% from the company’s current price.
Zacks‘ analyst wrote, “We maintain our recommendation on CMS Energy at Neutral. The company delivered weak second quarter results, missing the bottom line expectation on higher operating expenses. However, we remain positive on its cost reduction initiatives. CMS also reaffirmed its 2013 guidance and the long-term 5%-7% annual EPS growth rate. We believe that CMS, as a core utility portfolio holding, is a pure-play regulated utility with reliable execution and lower risk. Over the long term, the company presents a strong growth story, given its stable electric and gas utility operations, favorable regulatory policies in Michigan, higher rates, strong balance sheet and incremental dividend.”
Shares of CMS Energy Corp. (NYSE:CMS) traded down 0.33% during mid-day trading on Monday, hitting $27.23. The stock had a trading volume of 1,391,333 shares. CMS Energy Corp. has a 52 week low of $22.56 and a 52 week high of $29.98. The stock has a 50-day moving average of $26.39 and a 200-day moving average of $27.50. The company has a market cap of $7.240 billion and a price-to-earnings ratio of 16.77.
CMS Energy Corp. (NYSE:CMS) last announced its earnings results on Thursday, July 25th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by $0.06. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Analysts expect that CMS Energy Corp. will post $1.65 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on CMS. Analysts at Deutsche Bank reiterated a “buy” rating on shares of CMS Energy Corp. in a research note to investors on Tuesday, September 3rd. They now have a $30.00 price target on the stock. Finally, analysts at Barclays reiterated an “overweight” rating on shares of CMS Energy Corp. in a research note to investors on Friday, July 26th. They now have a $31.00 price target on the stock, up previously from $30.00. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $30.36.
CMS Energy Corporation (NYSE:CMS) is an energy company operating primarily in Michigan.
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